Financial Data and Key Metrics Changes - Washington Trust reported a net income of $20 million or $1.14 per diluted share for Q2 2022, an increase from $16.5 million or $0.94 per diluted share in the previous quarter [6][18] - Net interest income rose to $37.5 million, up by $2.4 million or 7% from the preceding quarter, with a net interest margin of $2.71, an increase of 14 basis points [18][19] - Noninterest income comprised 30% of total revenues, amounting to $15.9 million, down by $1.3 million or 8% [20] Business Line Data and Key Metrics Changes - Total loans increased by 5% in the quarter, primarily driven by strong growth in the residential portfolio, with residential loans up by $188 million or 11% [8][27] - Wealth management revenues decreased to $10.1 million, down by $465,000 or 4%, attributed to a decline in asset-based revenues [20][21] - Mortgage banking revenues fell to $2.1 million, down by $1.4 million or 41%, while overall loan origination activity was strong at $350 million, up by $79 million or 29% [22][23] Market Data and Key Metrics Changes - The average balance of assets under administration (AUA) decreased by $490 million or 7%, totaling $6.7 billion, down by $843 million or 11% from the previous quarter [21] - The commercial loan pipeline remained strong, near historic highs, with expectations of mid-single-digit growth for the full year despite some pressure from payoffs [9][60] Company Strategy and Development Direction - The company plans to open a new branch in Cumberland, Rhode Island, and a commercial lending office in New Haven, Connecticut, to enhance relationship building between business units [15] - Investments in technology and process improvements are aimed at enhancing customer and employee experiences, supporting a hybrid work environment [13][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from inflationary pressures and consumer spending, but noted strong labor markets and pent-up consumer demand could provide a cushion against recession [16][17] - The company expects continued margin expansion, projecting a margin of $2.75 to $2.80 for Q3 2022 [52] Other Important Information - The allowance for credit losses on loans totaled $36.3 million, representing 81 basis points of total loans, with a provision for credit losses of negative $3 million in Q2 [32] - The company repurchased 175,000 shares at an average price of $48.93, totaling $8.6 million under its stock repurchase program [30] Q&A Session Summary Question: Capital adequacy and unrealized losses - Management views unrealized losses on investment securities as transitory and believes capital is adequate to support growth [38][41] Question: Stock buyback rationale - The company focuses on shareholder return and considers share repurchases a prudent method to return capital, especially given the discount to trading prices [44][46] Question: Provision for credit losses - Future provisions will depend on loan growth and economic outlook, with expectations of mid-single-digit growth [47][48] Question: Margin outlook - Management anticipates continued margin expansion, with core margins projected to increase [57][52] Question: Staffing at new office - The New Haven office will have a mix of local hires and existing staff from Rhode Island, aiming for five or six commercial lenders [64] Question: Mortgage banking income outlook - The company expects some improvement in mortgage banking income in Q3, with a strong pipeline and a shift towards portfolio loans [73][72] Question: Credit quality and reserves - Management believes current reserve levels are appropriate based on credit risk assessments, with no specific target ratio [80][81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission file number: 001-32991 WASHINGTON TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 23 Broad Street Westerly, Rhode Island 02891 (Address of principal executive offices) (Zip Code) (401) 348-1200 (Registrant's telephone number, including area code) Securities registered pursuant to Sec ...

Washington Trust Bancorp, Inc. (NASDAQ:WASH) Q1 2022 Earnings Conference Call April 25, 2022 10:00 AM ET Company Participants Elizabeth B. Eckel - Senior Vice President, Chief Marketing & Corporate Communications Officer Ned Handy - Chairman & Chief Executive Officer. Ron Ohsberg - Senior Executive Vice President, Chief Financial Officer & Treasurer Mark Gim - President & Chief Operating Officer. William Wray Sr. - Chief Risk Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler Erik Zwick - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) Commission file number: 001-32991 WASHINGTON TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Rhode Island 05-0404671 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 23 Broad Street, Westerly, Rhode Island 02891 (Address of principal executive offices) (Zip Code) (401) 348-1200 (Registrant's telephone number, including area code) Securities ...

Washington Trust Bancorp, Inc. (NASDAQ:WASH) Q4 2021 Earnings Conference Call January 27, 2022 8:30 AM ET Company Participants Elizabeth B. Eckel - Senior Vice President, Chief Marketing & Corporate Communications Officer Ned Handy - Chairman & Chief Executive Officer. Ron Ohsberg - Senior Executive Vice President, Chief Financial Officer & Treasurer Mark Gim - President & Chief Operating Officer. Conference Call Participants Mark Fitzgibbon - Piper Sandler Laurie Hunsicker - Compass Point Matt Rank - KBW O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______. Commission file number: 001-32991 WASHINGTON TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Rhode Island 05- ...

KBW Community Bank Investor Conference August 4, 2021 W WASHINGTON TRUST BANCORP, INC. | --- | --- | |-----------------------------------------------------------|-------| | | Page | | Executive Team ……….………….…….……….…..…. | 3 | | Who We Are ………………..………………….........… | 4 | | Strategic Priorities .…………….......................... | 8 | | Earnings Capacity .……………............................ | 15 | | Credit Quality ……………………………………......…. | 21 | | Capital Management ……………………………...… | 29 | | Financial Highlights …… ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______. Commission file number: 001-32991 WASHINGTON TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Rhode Island 05-04046 ...

Washington Trust Bancorp, Inc. (NASDAQ:WASH) Q2 2021 Earnings Conference Call July 22, 2021 8:30 AM ET Company Participants Elizabeth Eckel - Chief Marketing and Corporate Communications Officer Edward Handy - Chairman & Chief Executive Officer Ronald Ohsberg - Chief Financial Officer and Treasurer Mark Gim - President and Chief Operating Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - Keefe Bruyette & Woods Inc. Erik Zwick - Boenning & Scattergood, Inc. Laurie Hunsicke ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______. Commission file number: 001-32991 WASHINGTON TRUST BANCORP, INC. (Exact name of registrant as specified in its charter) Rhode Island 05-0404 ...